Question

what is the nature of memorandam joint venture account?​

Answer 1

Answer:

Memorandum Joint Venture Account is just like a trading and profit and loss Account. All the co- venturers prepare the same Memorandum Joint Venture Account. The balance amount of Memorandum Joint Account shows either profit or loss on Joint Venture. The Co-venturers share the profit or loss in the agreed ratio.

Answer 2

Answer:

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Memorandum Joint Venture Account is just like a trading and profit and loss Account. All the co- venturers prepare the sameMemorandum Joint Venture Account. The balance amount ofMemorandum Joint Account shows either profit or loss on Joint Venture. The Co-venturers share the profit or loss in the agreed ratio.